If this continues, the pattern stays bullish
The indices had a
down-day, but it wasn’t too bad. Even though the day started out with
a pretty sharp move down on the S&P, the NDX held up a lot better and held the
rising trendlines of the last few days. Then they had a strong rally that took
the market to nominal new 2005 highs on the NDX, but failed by far to confirm on
the SPX.
Then the indices sold off steadily in the
afternoon. A rally try with an hour to go failed, and the indices sold off
pretty much into the close. Only a last few minutes bounce back brought them off
the lows…
Read More